Regular gas prices increase after 99 days of reduction
Yes, people, it’s fun when it lasts, but after a Gasoline price dropped continuously for 99 days, they turned wrong direction. Based on AAAnational average for a regular price gasoline is currently at $3.68 per gallon. That’s up a cent from yesterday. Intermediate and premium gas also marked on top overnight too, but since you can’t buy a fraction of the gas money, they’re mostly unchanged. Diesel, on the other hand, is down a penny to $4.93 per gallon.
These prices are still significantly below the records set for gas and diesel on June 14 and 19, respectively. Back then, regular gasoline was at $5.02 per gallon, and diesel was at $5.82. Now, the price drops to $1.34 and $0.89 respectively. However, prices are still far from where they were even a year ago.
Alas, the 99-day streak is over. Follow New York Times, the price at the pump is mainly determined by the global oil price. In mid-June, those prices were around $120 a barrel. Now the price is at $86. The reason for that drop is twofold. One: experts worry about the economic downturn affecting demand for gas. Second: there are some indications that supply will hit the market soon.
Recently, the daily decline in gas prices has slowed down to a very small increase, only a fraction of the size. Commodity futures trade shows that investors expect oil and gasoline prices to continue falling next year, but these commodities are highly volatile and subject to global political and economic forces. : Prices can rise quickly when they go down. One of the recent demand pullbacks is that people change their driving habits in response to high prices, which could change again if prices drop.
With that expected misery, let’s see how prices are shaping up across the country.
Here are the highest average gas prices in the country in order of highest prices for a typical gallon:
- California – $5.49 Regular Price | $5.68 Average | $5.83 Premium | $6.28 diesel
- Hawaii – $5.27 Regular Price | $5.50 Average | $5.73 Premium | $6.11 diesel
- Nevada – $4.95 Regular | $5.18 Middle | $5.39 Premium | $5.20 diesel
- Oregon – $4.65 Regular | $4.84 Middle | $5.05 Premium | $5.47 diesel
- Alaska – $4.64 Regular | $4.80 Average | $4.99 Premium | Diesel oil 5.14 USD
Here are the nation’s lowest average gas prices in order of lowest typical cost-per-gallon:
- Mississippi – $3.09 Regular | $3.46 Average | $3.83 Premium | $4.56 diesel
- Louisiana – $3.14 Regular Price | $3.51 Average | $3.86 Special | $4.56 diesel
- Georgia – $3.16 Regular | $3.56 Average | $3.93 Special | $4.63 diesel
- Texas – $3.16 Regular | $3.55 Average | $4.88 Premium | $4.51 diesel
- Tennessee – $3.21 Casual | $3.59 Average | $3.95 Premium | $4.65 Diesel
Let’s hope the downtrend returns quickly. I can’t afford to live like this.